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Newmont Announces Pricing of Common Stock and Convertible Debt Offerings

DENVER, Jan. 28 /CNW/ -- Newmont Mining Corporation (NYSE: NEM) (the
"Company") today announced that it has priced its public offerings of common
stock and convertible senior notes. The offerings were made pursuant to the
Company's shelf registration statement filed with the Securities and Exchange
Commission and shelf prospectus filed with certain Canadian securities
regulatory authorities.
The Company announced that it has agreed to sell 30,000,000 shares of its
common stock at a public offering price of $37.00 per share. The Company has
also granted the underwriters an option to purchase up to an additional
4,500,000 shares of common stock on the same terms and conditions to cover
over-allotments, if any.
The Company also announced the pricing of its public offering of $450
million aggregate principal amount of 3.00% convertible senior notes. The
Company has granted the underwriters an option to purchase up to an additional
$67.5 million principal amount of convertible senior notes on the same terms
and conditions to cover over-allotments, if any. The convertible senior notes
will pay interest semi-annually at a rate of 3.00% per year and will mature on
February 15, 2012, unless earlier repurchased or converted. The convertible
senior notes will be convertible under certain circumstances and during
certain periods at an initial conversion rate of 21.6216 shares of common
stock per $1,000 principal amount of convertible senior notes (representing an
initial conversion price of approximately $46.25 per share of common stock),
subject to adjustment in certain circumstances.
The Company intends to use the net proceeds from the offerings to fund
the acquisition from AngloGold Ashanti Limited of the 33.33% interest in the
Boddington project in Western Australia that the Company does not already own
and the additional capital expenditures that will result from its increased
ownership in the Boddington project, as well as for general corporate
purposes.
Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the
joint book-runners for the offerings, and BMO Capital Markets is the lead
manager for the offerings.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of any of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction. The securities being offered have not been approved or
disapproved by any regulatory authority, nor has any such authority passed
upon the accuracy or adequacy of the prospectus supplements or the shelf
registration statement or prospectus. A registration statement relating to the
securities has been filed with the Securities and Exchange Commission and a
prospectus has been filed with certain Canadian securities regulatory
authorities, both of which are effective. Final prospectus supplements
relating to the offerings will be filed with the Securities and Exchange
Commission and a final prospectus supplement relating to the common stock
offering will be filed with certain Canadian securities regulatory
authorities.
Copies of the prospectuses meeting the requirements of Section 10 of the
Securities Act of 1933, as amended, may be obtained from Citi, Brooklyn Army
Terminal, 140 58th Street, 8th floor, Brooklyn NY 11220 or by telephone at
(718) 765-6732, from J.P. Morgan, National Statement Processing, Prospectus
Library, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245 or by
telephone at (718) 242-8002, and at www.sec.gov. Copies of the Canadian
prospectus may be obtained from BMO Capital Markets, Prospectus Department,
B-2 Level, 1 First Canadian Place, Toronto, Ontario M5X 1H3 or by telephone at
(416) 363-6996 x224, and at www.sedar.com.
Cautionary Statement
This news release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, that are intended to
be covered by the safe harbor created by such sections and other applicable
laws. Such forward-looking statements include, without limitation, statements
regarding future sales of securities, completion and timing of the acquisition
of the remaining interest in the Boddington project from AngloGold Ashanti
Limited, and capital expenditures. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or
belief is expressed in good faith and believed to have a reasonable basis.
However, forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ materially from
future results expressed, projected or implied by such forward-looking
statements. Such risks include, but are not limited to, gold and other metals
price volatility, currency fluctuations, increased production costs and
variances in ore grade or recovery rates from those assumed in mining plans,
political and operational risks in the countries in which we operate, investor
demand and governmental regulation and judicial outcomes. For a more detailed
discussion of such risks and other factors, see the Company's 2007 Annual
Report on Form 10-K, filed on February 21, 2008, with the Securities and
Exchange Commission, and the Company's Quarterly Report on Form 10-Q, filed on
October 28, 2008, as well as the Company's other SEC filings. The Company does
not undertake any obligation to release publicly revisions to any
"forward-looking statement," to reflect events or circumstances after the date
of this news release, or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.